> Do you know how much control the investors have to change the board composition if they are ignored?

Most of Reddit's shares were issued in the era of founder-friendly voting rights agreements. The fact that those investors don't have anyone on the Board means they don't have the right to elect one to it. Private-company Board rules are Byzantine. But they're not thoughtless.

Isn't it also possible it's like Tesla with Musk. Even though the investors could oust him, they don't think it's worth losing his talent.